Assuming that workers' salaries in your company are uniformly distributed between $40,000 and $60,000 per year, find the probability that a randomly chosen worker earns an annual salary between $45,000 and $55,000.

Assume that X be the worker's salaries in your company distributed between $40000 and $60000 per…

Answered: Assuming that workers' salaries in your…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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A recent survey in Montana revealed that 20% of the vehicles traveling on highways, where speed limits are posted at 70 miles per hour, were exceeding the limit. Suppose you randomly record the speeds of 10 vehicles traveling on US 131 higway. Let X denote the number of vehicles that were exceeding the limit. What is the probability that fewer than 6 vehicles were exceeding the limit?
shift ↑ ctri otop Insurance: An insurance company sells a 1-year term life insurance policy to an 76-year-old woman. The woman pays a premium of $3600. If she dies within 1 year, the company will pay $90,000 to her beneficiary. According to the U.S. Centers for Disease Control and Prevention, the probability that an 76-year-old woman will be alive 1 year later is 0.9605. Let X be the profit made by the insurance company. AMD AS ocessor tab caps lock Part: 0/2 Part 1 of 2 (a) Find the probability distribution. The probability distribution is esc It ➜ fn X P(x) n Skip Part ! power. ching design. Type here to search. " 7 n 3600 E Stay connected and entertained 2 Q A Check # Z @ hp ta 2 # W * 3 VILE E S X X 5 alt $ 4 R % DF с 5 T V 10 G 6 # & B Y 99. 7 a hp H 4+ N #3 8 Save For Later © 2023 McGraw Hill LLC. All Rights Reserved. Terms of Use S A O ( 9 JUDO J M Fo > O KL ' P { alt [ Submit Assignment Privacy Center Accessibility 9:23 PM AODE 40 2/21/202 ? = insert L . 1 prt sc 9 pause ctri M…
Suppose on a given day, there is a 23% chance Emily will forget her wallet when going to work. What is the probability she forgets her wallet at least once in the next ten days she goes to work?
Suppose that the value of a stock varies each day from $12.22 to $45.34 with a uniform distribution.Given that the stock is greater than $21, find the probability that the stock is more than $31. Give your answer accurate to four decimal places.
Find the probability of an event E if the odds for E is equal to the odds against
In average the number of people entering the intensive care unit at the particular hospital on any one day is 5 persons per day. What is the probability that the number of people entering the intensive care unit one particular day is two?
Suppose a person is looking for a one-year life insurance policy. They decide on a $232994 policy. This policy costs $291 per year. Suppose the probability the person dies in the year is 0.0006. Find the expected value of the policy for the insurance company. Give your answer as a decimal to at least two decimal places.
If the probability of a person losing on a scratch-off lottery ticket is 0.955, the odds of losing are
Suppose on a given day, there is a 23% chance Emily will forget her wallet when going to work. What is the probability she forgets her wallet at least once in the next ten days she goes to work?
An insurance company will insure a $75,000 automobile for its full value against theft by apolicy with a premium of $1,500 per year. Suppose that the probability that the automobile willbe stolen is 0.0075.a. Construct the probability distribution.b. Calculate the insurance company's expected net profit for this policy.
The useful life of an electrical component is exponentially distributed with a mean of 4,000 hours. a. What is the probability the circuit will last more than 4,750 hours? b. What is the probability the circuit will last between 4,000 and 4,250 hours? c. What is the probability the circuit will fail within the first 3,750 hours?
Your friend Phil, asks you what you think about a new scratch-off lottery game. It costs $10 to play this game, There are two outcomes for the game (win, lose) and the probability that a player wins a game is 60%. A win results in $15, for a net win of $5 ($15 minus the $10 paid to play). The probability distribution for x� (the amount of money a player wins or loses) in a single game is as follows:

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